Course Description:

High income taxpayers now face a myriad of tax increases ranging from higher marginal tax rates, an expanded tax base, and the phase-out of many tax benefits, including a reduction in itemized deductions, a phase-out of personal and dependency exemptions, and a phase-out of tax incentives for post-secondary education expenses and other incentives related to dependent children. High income taxpayers are also faced with higher tax rates on long term capital gain/dividend income. Also, the phase-out of the AMT exemption will also require many high income taxpayers to pay an Alternative Minimum Tax. There are several tax planning opportunities, including the choice of business entity decision and certain income splitting strategies among family members that can be used to minimize the total family tax burden. The new taxes imposed by the Affordable Care Act, the additional .9% tax on earned income, and the 3.8% tax on net investment income require careful tax planning to minimize or even eliminate the burden from these new taxes.

Learning Objective:

  • How the new taxes contained in the American Taxpayer Relief Act of 2012, and the Patient Protection and Affordable Care Act will impact high-income individuals.
  • How these new taxes are imposed on earned and net investment income.
  • About the increased compliance burden facing high-income individuals as a result of these new taxes.
  • How to minimize the impact of these new taxes by incorporating your business and making an S election.
  • How to maximize the tax incentives available for post-secondary education expenses of family members.
  • How to minimize/avoid the imposition of the Alternative Minimum Tax.

Seminar Fee Includes:

AM-PM Tea/Coffee
Seminar Material
USB with seminar presentation
Hard copy of presentation
Attendance Certificate
$100 Gift Cert for next seminar

Course Benefits:

  • Those taxpayers with incomes of $200,000 or more may be considered "high-income" taxpayers?
  • That the income thresholds included in the Affordable Care Act are NOT indexed for inflation, meaning that more individuals will become subject to these taxes over time?
  • If you were not aware of any of these facts, then attending this seminar would definitely be beneficial for you.
  • This seminar will equip participants with viable tax minimization strategies that can be put to work immediately to reduce the tax burden of high income taxpayers. It will illustrate:
  • Tax compliance issues raised by the new taxes contained in American Taxpayer Relief Act of 2012, and the Patient Protection and Affordable Care Act.
  • Tax planning techniques to minimize these new taxes.
  • How the S-corporation can significantly reduce the applicability of these new taxes on business income.
  • How to maximize the tax incentives available for post-secondary education expenses.
  • How the Alternative Minimum Tax (AMT) impacts most high income taxpayers and the steps that can be taken to minimize/eliminate the AMT.

Areas Covered:

  • ATRA tax increases
  • ACA new taxes
  • What income is subject to additional Medicare tax?
  • What is Net Investment Income?
  • Tax minimization strategies: investment income
  • Tax treatment of business income
  • Tax minimization strategies for business income
  • Tax strategies for maximizing the tax benefits available for post-secondary education expenses.
  • Tax strategies for minimizing/eliminating the Alternative Minimum Tax.

Who Will Benefit:

  • CPAs
  • Corporate Tax Directors
  • Managers and Staff Responsible for Tax Compliance
  • Managers and Staff Responsible for Tax Planning
  • CFOs
  • Controllers
  • Tax Attorneys
  • Other Business and Financial Professionals Advising Clients on Tax Compliance.

Course Outline:

Day One (8:30 AM – 4:30 PM) Day Two (8:30 AM – 4:30 PM)

Registration Process: 8:30 AM – 9:00 AM

Session Start Time: 9:00 AM

  • ATRA Tax Increases
    • Increase in top marginal tax bracket/ capital gain tax rate
    • Phase-out of Itemized Deductions and Personal Exemptions
    • Expanded AMT exemption and phase-outs
  • ACA New Taxes
    • .9% Additional Medicare Tax
    • 3.8% Net Investment Income Tax
  • What income is subject to Additional Medicare Tax?
  • What is net Investment Income?
    • What expenses reduce investment income?
    • How are Passive Income/Losses treated?
  • Tax Minimization Strategies: Investment Income
  • Tax Treatment of Business Income
    • Sole Proprietor
    • Partners & LLC/LLP Members
    • S corporation Shareholders
  • Tax Minimization Strategies for Business Income:
    • The S-corporation election
    • Tax Advantages of hiring your children to work in your business
  • Comprehensive Case Study.

Tax Strategies for Maximizing the Tax Benefits Available for Post-secondary education expenses.

  • Who benefits?
  • Understanding the Terminology
  • Tax Deductions:
    • Work-Related Education Expenses (WREED)
    • Tuition and Fees Expenses (TFD)
  • Tax Credits:
    • Lifetime Learning Credit (LLC)
    • American Opportunity Credit (AOC)
  • Which is Preferable?
  • Examples and Comprehensive Case Study

Tax Strategies for Minimizing/Eliminating the Alternative Minimum Tax

  • Origins of the AMT
  • Recent legislative changes to the AMT “patch”
  • AMT formula
  • Computation of AMT
  • What are AMT Adjustments and Preferences?
    • Disallowed itemized deductions
    • Disallowed personal and dependency exemptions
    • Depreciation adjustments
    • Adjustments when computing the gain/loss recognized on disposition of certain assets
    • AMT treatment of incentive stock options.
    • AMT treatment of tax-exempt bond income
  • What is the AMT Exemption?
    • How is it phased-out?
  • What is the Tentative Minimum Tax and how is it computed?
    • Dual rate system of 26%/28%
  • What is the AMT credit and how is it computed?
    • Limited to timing differences
    • How the credit may or may not benefit future tax years.
  • Tax minimization strategies to avoid/minimize the AMT
    • Examples and Comprehensive Case Study.

Meet Your Instructor

Scott Transue
Owner, Freedom Day Tax and Accounting LLC

Scott has presented seminars in over 30 states. He holds Enrolled Agent licensure through the Internal Revenue Service, giving him unlimited representation rights for taxpayers experiencing collection issues with the IRS. He holds a Master of Public Administration degree from SUNY-Albany and is a Continuing Education instructor for ComplianceOnline. He has co-authored one book and is contributing author to two others. He owns his own tax firm, Freedom Day Tax and Accounting LLC.

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6201 America Center Drive Suite 240
San Jose, CA 95002

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Your registration for the seminar is subject to following terms and conditions. If you need any clarification before registering for this seminar please call us @ +1-888-717-2436 or email us @ [email protected]

Payment is required 2 days before the date of the conference. We accept American Express, Visa and MasterCard. Make checks payable to MetricStream Inc. (our parent company).

Cancellations and substitutions:
Written cancellations through fax or email (from the person who has registered for this conference) received at least 10 calendar days prior to the start date of the event will receive a refund — less a $200 administration fee. No cancellations will be accepted — nor refunds issued — within 10 calendar days before the start date of the event.

On request by email or fax (before the seminar) a credit for the amount paid minus administration fees ($200) will be transferred to any future ComplianceOnline event and a credit note will be issued.

Substitutions may be made at any time. No-shows will be charged the full amount.

We discourage onsite registrations, however if you wish to register onsite, payment to happen through credit card immediately or check to be submitted onsite. Conference material will be given on the spot if it is available after distributing to other attendees. In case it is not available, we will send the material after the conference is over.

In the event ComplianceOnline cancels the seminar, ComplianceOnline is not responsible for any airfare, hotel, other costs or losses incurred by registrants. Some topics and speakers may be subject to change without notice.

Attendance confirmation and documents to carry to the seminar venue:
After we receive the payment from the registered attendee, an electronic event pass will be sent to the email address associated with the registrant 5 working days before the seminar date. Please bring the pass to the venue of the event.

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Media Partners


Media Partner Benefits
  • Logo and company data on the event website.
  • Logo on the conference material distributed during the conference.
  • Media partner’s brochure distributed along with conference material.
  • Logo on all the mailings before and after the event.
  • 10% discount to media partner's subscribers.

Media Partner To Do
  • Banner (min 728x90 or 468x60) on the media partner website.
  • Insertion of the event in the event calendar, both printed and/or online.
  • Announcement article of the conference on the magazine and/or website.
  • Dedicated email blast to media partner’s subscribers.
  • Article on the magazine and/or website after the conference.

Local Attractions

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The Alcatraz Lunch Cruise is a luxurious way to get to see some of San Francisco’s favorite sights. A gourmet lunch buffet features options like asiago Caesar salad, bay shrimp salad, roasted chicken, garlic-herb roasted new potatoes and more. While guests enjoy lunch, they can take in views of San Francisco Bay’s flora and fauna, Angel Island and Alcatraz, and a live narration explores the history of Alcatraz. Please note that this tour doesn’t stop on Alcatraz Island.

A relaxing way to explore the San Francisco Bay is with the Luxury Catamaran Sailing Cruise. A drink bar and snacks are available for travelers’ enjoyment as they travel under the Golden Gate Bridge, around Alcatraz Island and even past a colony of sea lions. This is a peaceful San Francisco cruise option for families, and children under 5 ride for free.

City Kayak, located on San Francisco's Embarcadero close to the San Francisco Giant's ATT Park, offers a great way to experience San Francisco from Bay level, a point of view and a unique experience you'll not soon forget.

San Franciscans may be familiar with Think Escape's party buses that shuttle the late-night crowds to and from various city nightclubs, but the Cache Creek Casino Escape is a little-known gem among Bay Area destinations. With personal charter service on the luxurious Fantasy Limo Bus to Cache Creek Casino and Resort, the Cache Creek Casino Escape tour is a smart choice for San Franciscans looking for a little gaming fun or planning a large group activity

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